Home Buying in 95823>Question Details

Pkline4, Home Buyer in Philadelphia, PA

What is start date after a FHA foreclosure to apply for a VA home loan it's a three year wait to apply?

Asked by Pkline4, Philadelphia, PA Sat Jan 12, 2013

for VA loan but what date do I use on credit report

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Sheryl Arndt’s answer
Yes you may qualify VA 2 years from a foreclosure. You may qualify FHA ONE YEAR from a BK, short sale, foreclosure or deed in lieu. It only takes a few dozen questions to qualify and go over your options. Here is a blog.

http://www.trulia.com/blog/under640ficoscoreloans/2013/08/qu…

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm Monday thru Saturday, Sundays by appt.
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
If my response was helpful, consider clicking thumbs up or Best Answer!
0 votes Thank Flag Link Fri Apr 11, 2014
It's good to see buyers with recent foreclosure able to buy again. See Comstock if you have a buyer in need.
0 votes Thank Flag Link Fri Apr 11, 2014
For a foreclosure, the start date is based on the recorded date HUD took the property back, the form is called a Trustee Deed Upon Sale (or Trustee's Sale)....

It's possible you only need 2 years from your foreclosure date to secure a new VA loan, though many lenders have overlays that require 3 years...

Let me know if you still need some assistance with your VA loan!

best, Jeff M
0 votes Thank Flag Link Sun Aug 4, 2013
CFS Mortgage, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes Thank Flag Link Sun Aug 4, 2013
You may qualify for VA/CalVet after 2 years from a foreclosure. I am a Veteran and specialize in VA/CalVet as well as many other loan programs to assist you when your ready. It only takes a few dozen questions to qualify you in minutes and go over your options. You will need one day after a 2 years from the trustee sale date. I can look it up for you so you know the exact date. VA has tightened up their guidelines and CalVet may be more lenient on guidelines but if you don't qualify for either of those you would have to get your credit in order or wait 3 years from the foreclosure to qualify FHA from 3.5% down or as low as half percent down payment program.

I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify although VA/CalVet are not fico score driven programs, I know what I can fund. You want to look at your credit a few months in advance to see what is on your credit to address in credit cleanup. Here are some links to study and consider that I offer.

http://www.under640ficoscoreloans.com/Pages/VAHomeLoans.aspx

http://www.under640ficoscoreloans.com/Pages/CalVetHomeLoans.aspx

http://www.under640ficoscoreloans.com/Pages/Conventional.aspx

http://www.under640ficoscoreloans.com/Pages/FHA.aspx

http://www.under640ficoscoreloans.com/Pages/JumboLoan.aspx

http://www.under640ficoscoreloans.com/Pages/CHDAPLoans.aspx

http://www.under640ficoscoreloans.com/Pages/HalfPercentDown.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 7pm 7 days
http://youtu.be/MrygA2_8fAY

If my response was helpful, consider clicking thumbs up or BEST ANSWER!
0 votes Thank Flag Link Fri Aug 2, 2013
The VA guidelines state 2 years, but don’t assume that means all will be well in two years. The VA guidelines stat that this is the MINIMUM time period, so it’s important to have the rest of the application file look as impressive as possible.
0 votes Thank Flag Link Thu Aug 1, 2013
I had a client who wanted to buy a home in Arizona, but he had a foreclosure. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure. There is no waiting period. Good to see lending options coming back.
0 votes Thank Flag Link Thu Apr 18, 2013
third vote...Two years wait. Pull the actual date of recording for when the clock started.

i would also highly recommend using a local lender. In this market the issue is finding a home, and the timeframes are tight to complete your transaction. Using a local lender is my preference to have your team (realtor, lender, etc.) synchronized to close on time without issue.

I'm not sure when your foreclosure was, but time has a way of going by pretty quickly. Before long, you'll be back searching for a home. Good luck!
0 votes Thank Flag Link Mon Jan 14, 2013
You have a 2 year wait for VA financing. I am a Veteran and specialize in VA or CalVet financing. It will be 2 years and one day after the trustee sale date. I can look it up and tell you with an address. Here are some links to study and consider.

http://www.under640ficoscoreloans.com/Pages/VAHomeLoans.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/aTK4ajNsjLM
0 votes Thank Flag Link Sat Jan 12, 2013
With VA you must wait two years.
The wait date for all waiting periods are from the day title transferred back to lender.
0 votes Thank Flag Link Sat Jan 12, 2013
I was wondering that because I did research on VA web site and called the VA who deals with Pennsylvania and the VA told me 2yrs nothing on what kind of a loan whether FHA,conventional,VA etc.that we were foreclosed upon ,but Veterans United the number one VA home loan experts are telling me 3 years on FHA foreclosure to wait for a VA home loan is that their criteria or the VA
Flag Sun Jan 13, 2013
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